- Less than 10 percent of all Houston home sales were valued above $500,000
- Inventory has increased noticeably in the last 12 months
- Year-over-year sales activity was barely adjusted
The Houston-Sugar Land-Baytown metro accounted for 25 percent of all Texas homes sales during the third quarter; however, the metro’s transaction total only equated to a 1.3 percent year-over-year rise in activity.
This minimal bump in sales volume supports the notion that Houston has been a consistent performer during the past several years.
Of the 23,109 homes that sold in Houston during the third quarter, more than 45 percent changed hands for less than $199,999, according to a report from the Texas Association of Realtors. Additionally, 45 percent of purchases were for properties priced between $200,000 and $499,999.
[graphiq id=”efjA8DubSaV” title=”Home Sale Statistics in Houston, TX” width=”600″ height=”678″ url=”https://w.graphiq.com/w/efjA8DubSaV” link=”http://places.findthehome.com/l/94729/Houston-TX” link_text=”Home Sale Statistics in Houston, TX | FindTheHome”]
The volume of $200,000-plus deals pushed the metro’s median home price to $215,000, a year-over-year rise of 6.5 percent. This home value is $15,000 higher than the statewide median price.
As prices rose and sales activity remained consistent, the number of active listings increased during the quarter to 22,810 – roughly 22 percent of the state’s listings. The rise in listings equated to a 28.2 percent year-over-year rise for Houston.
A larger pool of active listings, coupled with relatively unchanged average days on the market (46 days), equated to inventory growth. Entering the fourth quarter, the metro had 3.4 months of inventory. During the same time last year inventory stood at 2.7 months.